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24 August 2021 nitro NITRO DELIVERS 56 % ANNUAL RECURRING REVENUE GROWTH IN STRONG 1H RESULTS Nitro Software Limited ( ASX : NTO ) ( ' Nitro ' or the ' Company ' ) , a global document productivity software company driving digital transformation in organisations around the world , today releases its results for the half year ended 30 June 2021 , with continued strong recurring revenue growth supporting the delivery of the Company's FY2021 forecasts . 1H2021 Highlights ( USD unless otherwise stated ) Annual Recurring Revenue¹ ( ‘ ARR ' ) of $ 33.8 million , up 56 % from ARR at end of 1H2020 . ● ● SaaS transition continues with subscription revenue growth of 66 % to $ 15.1 million , now representing 63 % of total revenue . Total revenue growth of 27 % to $ 24.1 million . Improved operating EBITDA loss of $ 3.0 million² vs originally forecast , reflecting strong revenue performance and greater cost efficiencies . Product expansion continued with addition of Mac , iPad® and iPhone® capabilities through acquisition of PDFpen³ . Nitro Sign ™ launched with full commercial availability as standalone subscription offering in new Nitro Productivity Platform pricing and packaging structure³ . Reaffirmed FY2021 ARR guidance and updated guidance for revenue and operating EBITDA4 vs originally forecast . ¹ Based on the updated ARR definition ; refer to Annexure 1 in the Half Year Report for details . 2 Excludes the impact of non - cash share based payments expense and foreign currency gains and losses , as well as one - time M & A advisory expenses . 3 Subsequent event , completed in July 2021 . 4 Guidance updated on 28 July 2021. ARR guidance is now based on the updated ARR definition per Annexure 1 in the Half Year Report . +1.650.507.4777 | Level 7 , 330 Collins Street , Melbourne , Victoria 3000 , Australia | gonitro.com